A new House bill introduced by Representative Ritchie Torres seeks to prohibit government officials from participating in prediction markets. The proposed legislation is motivated by concerns that politicians may exploit insider information gained through their positions for personal gain within these markets. The bill aims to address potential conflicts of interest and ensure fairness in prediction market activities, according to reports. The development highlights ongoing scrutiny of financial activities by government officials and efforts to prevent abuse of privileged information.

A new House bill introduced by Representative Ritchie Torres seeks to prohibit government officials from participating in prediction markets. The proposed legislation is motivated by concerns that politicians may exploit insider information gained through their positions for personal gain within these markets. The bill aims to address potential conflicts of interest and ensure fairness in prediction market activities, according to reports. The development highlights ongoing scrutiny of financial activities by government officials and efforts to prevent abuse of privileged information.